Hecla Mining (NYSE:HL) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Thursday.
According to Zacks, “Hecla Mining Company is a leading low-cost U.S. silver producer with operating mines in Alaska and Idaho, and is a growing gold producer with an operating mine in Quebec, Canada. The Company also has exploration and pre-development properties in five world-class silver and gold mining districts in the U.S., Canada, and Mexico, and an exploration office and investments in early-stage silver exploration projects in Canada. “
HL has been the subject of several other reports. Cantor Fitzgerald initiated coverage on shares of Hecla Mining in a report on Monday, December 4th. They issued a “buy” rating and a $5.00 price objective for the company. ValuEngine lowered shares of Hecla Mining from a “hold” rating to a “sell” rating in a report on Sunday, December 31st. Royal Bank of Canada set a $5.00 price objective on shares of Hecla Mining and gave the stock a “hold” rating in a report on Tuesday. Canaccord Genuity restated a “buy” rating and issued a $5.00 price objective on shares of Hecla Mining in a report on Monday, January 8th. Finally, BMO Capital Markets set a $5.00 price objective on shares of Hecla Mining and gave the stock a “hold” rating in a report on Thursday, February 15th. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company. Hecla Mining has an average rating of “Hold” and an average price target of $5.14.
Hecla Mining stock traded down $0.01 during trading on Thursday, hitting $3.55. 4,784,670 shares of the stock were exchanged, compared to its average volume of 5,016,173. The company has a current ratio of 2.86, a quick ratio of 2.37 and a debt-to-equity ratio of 0.34. Hecla Mining has a one year low of $3.25 and a one year high of $6.17. The stock has a market capitalization of $1,306.03, a price-to-earnings ratio of -59.17, a P/E/G ratio of 261.60 and a beta of 0.30.
Hecla Mining (NYSE:HL) last issued its quarterly earnings data on Thursday, February 15th. The basic materials company reported $0.04 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.02 by $0.02. Hecla Mining had a negative net margin of 4.07% and a positive return on equity of 2.17%. The business had revenue of $160.10 million during the quarter, compared to analyst estimates of $156.85 million. During the same period last year, the business posted $0.03 earnings per share. Hecla Mining’s quarterly revenue was down 2.6% compared to the same quarter last year. sell-side analysts anticipate that Hecla Mining will post 0.01 earnings per share for the current year.
Several hedge funds and other institutional investors have recently made changes to their positions in HL. Millennium Management LLC bought a new position in shares of Hecla Mining during the fourth quarter valued at approximately $13,161,000. Alps Advisors Inc. increased its stake in shares of Hecla Mining by 179.6% during the fourth quarter. Alps Advisors Inc. now owns 1,844,444 shares of the basic materials company’s stock valued at $7,322,000 after purchasing an additional 1,184,666 shares in the last quarter. BlackRock Inc. increased its stake in shares of Hecla Mining by 2.8% during the fourth quarter. BlackRock Inc. now owns 25,922,232 shares of the basic materials company’s stock valued at $102,911,000 after purchasing an additional 694,899 shares in the last quarter. Old Mutual Global Investors UK Ltd. increased its stake in shares of Hecla Mining by 28.6% during the fourth quarter. Old Mutual Global Investors UK Ltd. now owns 2,384,211 shares of the basic materials company’s stock valued at $9,465,000 after purchasing an additional 530,000 shares in the last quarter. Finally, Virtus Fund Advisers LLC increased its stake in shares of Hecla Mining by 7.7% during the fourth quarter. Virtus Fund Advisers LLC now owns 7,197,246 shares of the basic materials company’s stock valued at $28,573,000 after purchasing an additional 515,890 shares in the last quarter. 59.98% of the stock is owned by institutional investors and hedge funds.
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About Hecla Mining
Hecla Mining Company, together with its subsidiaries, discovers, acquires, develops, and produces precious and base metal deposits worldwide. The company offers zinc, lead, and bulk flotation concentrates to custom smelters and brokers; and unrefined gold and silver bullion bars to precious metals traders.
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